Poundland owner to take ‘immediate measures’ to halt chain’s sales slump The parent firm of Poundland has said it is taking “immediate measures” to turn around the performance of the UK discount chain after a sharp drop in sales.
Poland-based Pepco Group said the UK business, which runs 825 stores, will increase the number of products it sells for £1 or less as part of efforts to get the chain “back on track”.
Pepco said that recent trading at Poundland stores was challenging as the UK retail environment became tougher towards the end of 2024.
Poundland revenues slid by 9.3% for the three months to December 31, with like-for-like sales down 7.3%, as it witnessed weaker clothing sales.
Meanwhile, the wider Pepco Group saw overall revenues grow 8.4%, supported by the opening of new Pepco and Dealz stores.
